Quote:
quote:Originally posted by SEC
The Sydney market is probably a good indicator of what will happen in NZ (and Akl/Wlg/Chc in particular). In Sydney, there is net immigration, rents are rising but that hasn't stopped property prices falling since 2003 - not surprising with gross rents near 3%!
SEC
Agree that it is worth following Sydney. In nominal terms the fall hasn't been great - 10% perhaps however the falls have been major and catastrophic in SW Syney I think, (lower income - local economy/employment not doing so well) whereas the better areas and closer in have been much more resilient, so Sydney is a number of markets performing quite differently.